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US-based paper and packaging company WestRock has received approval from the US Department of Justice (DOJ) for the proposed acquisition of KapStone Paper and Packaging through Whiskey Holdco for approximately $4.9bn.

The DOJ clearance was the last antitrust approval required to complete the transaction and is subject to customary closing conditions.

The company will proceed to close the transaction on 2 November. The deal was announced in January, following a definitive agreement between the parties.

Holdco will own WestRock, KapStone and their respective subsidiaries after completion of the transaction.

At the time of the announcement, WestRock CEO Steve Voorhees said KapStone’s corrugated packaging and distribution operations will complement WestRock’s ability to serve customers, particularly in the Western US.

“We look forward to welcoming the KapStone team members to WestRock and working with them to help make WestRock an even better company.”

Voorhees said: “Importantly, KapStone and WestRock share the same dedication to serving customers. We look forward to welcoming the KapStone team members to WestRock and working with them to help make WestRock an even better company.”

The company also announced that it will finance the cash consideration through the issuance of new debt under a fully committed financing package.

Established in 2005, KapStone produces and distributes containerboard, corrugated products and speciality papers such as liner and medium containerboard, kraft papers and saturating kraft.

It also owns a packaging solutions distribution company Victory Packaging, which has operations in the US, Canada, and Mexico.

A pharmaceutical client was at risk of a product recall due to a capping problem with a new tablet formulation. This document explains how DJA Pharma prevented a costly recall with a simple, elegant and effective solution.

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A pharmaceutical client was at risk of a product recall due to a capping problem with a new tablet formulation. This document explains how DJA Pharma prevented a costly recall with a simple, elegant and effective solution.

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Download our whitepaper

You are in control of the communications you receive from us and you can update your preferences anytime to make sure you are receiving information that matters to you. Please check our Verdict Privacy Policy to see how we protect and manage your submitted data.

Products

The LLT100 revolutionises the level measurement industry. It is specifically made for industrial applications and harsh environments and replaces open-path radar and other level transmitters. It provides continuous, non-contact level measurement capabilities for process automation and inventory management in industries such as mining, aggregates, oil and gas, chemicals, food and beverages, power, pulp and paper, pharma, as well as water and wastewater.

The LM200 laser level measurement transmitter is dedicated to long-range applications. It measures solids at distances up to 200m (656ft) and up to 45m (148ft) on opaque liquids. It finds many applications such as ore pass level monitoring in mining or for tripper car positioning, for instance.